Company registration number: 08924895 Charity registration number.. 1157683 Nottingham Youth Orchestra Limited (A company limited by guarantee) Annual Rcport and Financial Statem¢nts for the Year Ended 31 August 2024 RWB CA Limited Northgat¢ House North Gate New Ba5foTd Nottingham NG7 7BQ
Nottingham Youth Orchestra Limited Contents Reference and Administrdtive Details Trustees, Report 2to4 Statement of Trustees, Re5POnStbilities Independent Examiner's Report StstemeTht of Financial Activities 7t08 Balance Sheet Notes to the Financial Ststements IOto22
Nottingham Youth Orchestra Limited Reference and AdmiDlStrative Details Charity Registr4tion Number 1157683 Company RegistratlOD Number 08924895 The Charity is incorporated in England and Wales. Northgate House North Gate New Basford Nottingham NG7 7BQ RWB CA Limited Northgate House North Gate New Basford Nottingham NG7 7BQ Registered Office IDdepeDdeDt ExamiDÈr Page I
Nottingham Youth Orchestra Limited Trustee51 Report The Iste¢S, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable wmpany foT the year ended 31 August 2024. Objectives and activities Objeets oimf The Company is a registered charity, governed by its Articles of Association. The objects of the charity are the advancement of education and of the arts and in particular the art and science of music in all its aspects by the maintenance and support and development of youth orchestras and other music ensembles for the young people of Nottinghamshire and its environs and the fostering of public knowledge and appreciation of music by public perfonnance. Objeelives, slralegies and adiviil The orchestra runs four music groups.. there are three orchestras. a training orchestra for members with a standard above grade 3, an intern)ediate Orchestra for members who have reached a standard aTound grade 5 and above. and a senior orchestra for players from grade 6 to grade 8+. There is also a jazz group operating under the name of Nottingham Youth Jazz Orchestra (NYJO). All groups rehearse towards the presentation of public perforn]ances. The concerts for the three orchestras and NYJO, perfornied in the Albert Hall, Nottingham, were ail of a high standard and well sUPPQrted by parents and families. We have continued to maintain membership at over 200 through an a¢tive recruitment campaign. In addition to regular weekly rehearsals, the organisation also ruTh5 workshop training days and other offsite a¢tivities. when groups of instrumentalists from all three orchestras are given coaching by nationally recognised tutors with a view to enhancing the participants. appreciation and understanding of the skill of orchestral playing. A rehearsal and team-building day was also held at Wal¢sby Forest Activity Centre. All musical activities are overseen by an experienced group of music thtors and conduGtors, without whose enthusiasm and committnent the Company would not be able to do all it doe5, and their contribution is greatly valued. We have a small budget for professional development which tutors are able to acces5. Public benefil The orchestra's objects, whi¢h the trustees believe embra¢e any public benefit requir¢menL are shown above. In addition. the orchestra has developed a system of bursaries to ensure that musicians. whatever their background or finanGial means. can join in our athiviti¢s. The bursaries are means-tested. and this year 25 children {from 15 families) have benefitted from the scheme. This is a considerdbl¢ in¢re&8e from the previou5 year (nine children from seven families). For concerts. tickets are made available at a greatly-reduced pric¢ sp¢¢ifically aimed at ¢hildren attending schools in the more deprived areas of the local community. The trustees confirn] that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regd to th¢ publi¢ benefit guidance publish¢d by the Charity Commission for England and Wales. Page 2
Nottingham Youth Orchestra Limited Trusteesl Report The trnstees confirnl that they have complÈed with the requirement5 of section 4 of the Charities Act 201 I to have due regard lo the public benefit guidance published by the Charity Commission for England and Wales. Financial review Total income for the year was £141.477 and total expenditure wa5 £140.493 resulting in an overall operating surplus of £984 - a break-even budget had been set by the trustees for the financial year. This is a significant improvement upon the previous year when an operating deficit of £20,138 was incurred. The board of trustees 15 Gonfident that the organisation remains on a sound financial footing. Poliry on rerV It is the poli¢y of the trustees to uMUlate and maintain unrestri¢ted funds, which are the free reserves of the charity, to a level which will equate to at l¢a5t four months. expenditure. The overall Net Asset Value of the charity as at 31st August 2024 was £235.358, all of which are unstrICted funds. Trustees and officers The trustees and officer5 scrving during the year and since the year end were as follows: Trustees: Miss E A Bratton MrTNBooth Dr M Chadwi¢k MrFJBL¢Brocq MrJWALowe Mr S G Ma50n Mrs W McDonald Mr J M Saville Mrs E M St¢v¢n$ Mr J E Stork Structure? governanre and management Reeruilmenf and appointment oflrmslees The Directors wh05¢ names are shown on page I served from and to the dates shown on that page. Whilst no fomial training ha5 been undertaken, all trustees appointed have a wide and practical knowledg¢ of the workings of musical ups and oheStraS. Amongst the Directors are those with legal and accountancy bkgrOundS and previous charitable experience. The Company aims to have a wide range of Skills amongst the Directors and representation from both parents and the musical staff, both gTOUPS being key stakeholders in the organisation. Page 3
Nottlngham Youth Orchestra Limited Trustees, Report Orxanisaiional.ftnthre Th¥ Q'onipany is ¥¢)v¢rn¢d by a Board consisiin¥ of the Direcwrs Itstcd vn p4e l. The Board has ovcrdll i¢sponsibiliLy for governaEice of the Compauy, approves the annual budgci ovetsrts the finances, Apptoves policies, appoints key p¢rsottnel, and develops the strategic direction of th¢ Company. ) UPCFdfiuiib Lummittcc ivmprising th¢ Orthestra Managcr {whv th"r5 ihib. rummittcc), Administr41tutS, d tuwr representhtive and parent and oth¢r volunteus m¢ets regularly to ov¢rs¢¢ the dLy404lay operats.ons of the Company. The Company 15 assist¢d by an Artistic Advisw. Jome6 Ix)we, wh05¢ ¢xperien¢c and w75c counsel is greatly apprccialcd. ThL orche.stra valws very much the time devoted to its athninistration and smooth wnning by volunteers. Thcse arc prInci1[Y pertIs. helping ai concerts and oth¢r fuucLÈotis. In adth'tion ts) th¢ 51e1¥ all other rnembe of the commii(ce givc frccly of their tim¢. Some ycars ago, NYO decided to appoint a paid administrator due lo the very considerablc amount of work generdted in running an organisation invofving th¢ deltv¢ry of our activiiics to more than 200 childrcn acro55 fouT uups. P¢iuld Wall ib Dur employed administrator. and 5h¢ dnes a supert) job in hatjdiinbi myriad qLLerics. k¢vpin¥ our r¢cor(ts up to dale, communi¢ating with all involvcd and g¢n¢Ta]ly kccping the AdmJ'nistT81ion iti order. We also brnefit trum the serviLCS ol. a s¢lf-employed assistarst thinistrdtor, Cath4Tin¢ Lester (who is also 01)e of our orchebira iuior.s1, ti) 8UPPOrt Paula. Her role focuK4 on reLrnithienr. orchcstrn auditions and orgdnisaiion of ¢vents such as r¢sidcnti4ls and socials. We owe Paula attd Catharine a hug¢ debt of gratitud¢ for all their hard work on our bel)*lf. The Board prolidcs a xtnall annual remuncNion to its TrsUrer, Laur Cunnington ACIB. Rl$k m#n#gement The truseS hav¢ ¢onsid¢red the major opcrAtion41 risks faced by ¢h¢ lty and believe that they have impos¢d suffiLicni cuntrols l() rcduL'e thcsc to a Tninimum. The annual rcport was Jpproved by th¢ ttllSt¢¢s of th¢ Cbarity ollG ..ft&... tsand sagtt oll its behalf by.. MrTrJBLeBrocq TrusLLC Pa%c 4
Nottingham Youth Orchestra Limlted Statement of Trustees, Responslbilltles The tnjstees (who also the directors of Noiiinghlun Youth 0h¢Str Limited for the pu4)os¢& of company law) arc rc5poiisiblc for preparing the uustees, report and the financial 5ts1ements iti ac¢ord#]Ice with applicable law and LTnii¢d Kin¥dom Accounting SuDdards Iuniicd Kingdom Gellerally Acc¢pi¢d Aclounting Practicc). illcluding FRS 102 'The Financlal RepiTrrting Sundard applicable in the UK and Republic of trctand.. Company law requires thc trust¢¢s to ptr¢par¢ tinancial staiuDents for ¢ad) financial yw. Under company law th¢ tw.qtecs must noi approve the financial ststemcnL$ Unl ihey aTe satisfied rhat they a tNe and fair N'iew of (hL late ol. affair4 of the eharilable company and of the incoming resources atKI applicaLion of tesource¥, itlLluding i(s incomc and exndItIc. of the charitablc company for thai pcrio& In pr¢paring these fiDancidl stAtellients, thc trgLet5 are required ro: select suirttble accourttiiig policies and apply ihem consistently. ub5erve thc mctholts and prinLiples in the Chariti¢% SURP: idkL judgkYn¢nts and estimates thac arc rcason&bl¢ and pnen( stht¢ whcther dppIiLablc accoulliing stsndards, comprising FRS 102 have bccn followe& subjcct lY maieriaL dcpthur¢s disLlvsed dnd cxplain¢d in th¢ financial ststem¢nlS.' and prepare the financial sthtancnts on the going conccrn bL%is Unle it is illappropriate w pr¢sume that th¢ Chittlble conipany will colliinue busincss. Thc trusic¢s arc r¢spollsiblc for kccpiug prop¢i accounting (OrdS that can discloK with asOnable 8ccuro¢y af 8ny rim¢ th¢ financial p¢)bition of the charitable conipany and enabl¢ them to ¢nsure tha( (he fIncial ststcm¢n¢s ioinply with the Coiiipanies Act ?006. They are also responsible for bafegudr(bng Ihe assets of the charitsble compatty and hence lor takii)g r¢asonable stLys for thc pr¢v¢ntion and deiccuon of fraud and othcr irre8ulariue& The trusiecs are r¢spoTLsible for the maint¢Tranc¢ and intcgTity ot-thc eorporatc and financilll infomiatiom in¢luded on the Lharilahlc comp8ny's we.11¢. Lcgtslation governing th¢ preparniion dissunintttion of financial sthtemenLS may th'ff¢r from le51allOn in other jurisdictions. Approved by the [n(c¢S of the Lharity on ........ - and sI¢d on it& behalf by.. J B Le Brocq Tblee Pagc 5
Nottingham Youth Orchestra Limited Independent Examiner's Report to tbe trustees of Nottingham Youth Orchestra Limited ('the Company,) I report to the Charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024. Responsibilities and basis of report As the Charity's trustees of the Company (and also its directors for the purposes of company law) you are r¢sponsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Ath,). Having sat15fied myself that the accounts of the Company are not required tr) be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your Charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act.). In Garying out my examination I have followed the DiTections given by th¢ Charity Commission under se¢tion 145(5)(b) of th¢ 2011 Act. Independent examiner's ststement I have wmpleted my examination. I confirni that no matters have come to my attention in connection with the examination giving me cause to believe: accounting re¢ords were not kept in respect of Nottingham Youth Orchestra Limited as required by section 386 of the 2006 A¢t' or 2. the accounts do not accord with those Tecords. or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than requirement that the accounts give a 'true and fair view, which is not a matter ¢onsidered as part of an independent examination. or 4. the accounts have not b¢¢n prepared in accordanGe with the method5 and principles of the Stakm¢nt of R¢wmmended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have Gome across no other matters in connection with the examination to whi¢h attention should be dra in this report in order to ¢nable a proper understanding of the accounts to be reached. Neil Coup FCA DCbA Northgate House North Gate New Basford Nottingham NG7 7BQ Page 6
Nottingham Youth Orchestra Limited Statement of Financial Activities for the Year Ended 31 August 2024 ncluding Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2024 Note Ineome and Endoivments from: Donations and legaGi¢s Charitsble activities Investment income 5,881 130,286 5,310 5.881 130,286 5,310 Total income 141,477 141,477 Expenditure on: Raising funds Charitable activities (1.729) (138.764) (1,729) (138.764) Total expenditure GainsAosses on inve5tm¢nt &8sets (140,493) 18.129 (140,493) 18.129 Net income 19.113 19.113 Net movement in fid$ 19.113 19.113 Reconci]i8tion of funds Total fimds brought forward 216,245 216,245 Totsl fill$ carried forward 20 235,358 235,358 The notes on pages 10 to 22 forni an integral part of the5¢ financial statements. Page 7
Nottingham Youth Orchestra Limited Statement of Financial Activities for the Year Ended 31 August 2024 ncluding Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restrieted nds Totsl 2023 IYot¢ Income And Endowments from: Donation5 and legaci¢s Charilable activities Investment income 1.091 131.116 5.569 1,091 131,116 5.569 Total inwme 137,776 137,776 Expenditure on: Raising funds Charitable activities (1.391) (153,317) (1,391) (156,523) (3,206) Total expenditure Gainsllos5¢5 on investment assets (154.708) (4.101) (3.206) (157.914) (4,101) Net expenditure Transfers between funds (21,033) 228,319 (3,206) (228.319 (24.239) Net movement in fijnds 207,286 (231,525) (24,239) Reconciliation of funds Total fimds brought forward 8.959 231,525 240,484 Total fimds carried foThYard 20 216.245 216,245 All of the Charity'5 activities derive from continuing operati0Th5 during the above two periods. The note5 on pages 10 to 22 forni an integral part of these fllw]cial statements. Page 8
l%ottin%ham Youth Orchestra Llmitcd (Registration number: 08924895) Bal&nce Sbeet a5 at 31 August 2024 2024 2013 Ntste Flxed assets T4ngiblL ag%cts Iiivestmcnts 14 15 10,700 197,816 7,210 201.313 208.516 20A.$23 Current usets I>ebtors C at bank and in hand 16 13,963 25,573 644 8,717 39,536 9.371 Credl¢ors: Amounts falllng due wlihln one year 18 (12.694 (1,649) Yet Lurrent Ilsfts 26,84? 7.722 Net asset$ 235.358 216,245 Funds uf the Chtrlry: Unrestrlcted IDcome funds Unrcstricted funds 235.358 216,245 Tot1 fun411 20 235,358 ?16,245 Fi)I" thv linancial y&v ending 31 August 2024 the Charity was cnlided to exemption from audit under tiOn 477 or the Companies Act 2006 relating to small companies. Dirtttors, rcsponsibilities= TIiL nicinbLYS huvc not r¢quircd the Charity to obtsin an audit of its accounts for thc T in questiim in accordance with gection 476; Knd Th¢ directors iiLknL)wILlgL th¢ir r¢spotLsibilili¢s for cumplying with th¢ Trquirvmenis of the Act with r¢spec( ts) LLounung rccords ond prLPdraiion of acLounts. Th¢ fin131 sr4t¢iii¢ntb un pl¢5 7 w ?2 wcrc approvrd by the uust¢es, authoris¢d for issuc on .................... and signed on their belialf by: MrFJBLCBroq TNstee The notes on pagc5 10 10 22 fi)nn an integral part of th¢st financial staiements. Pa8e 9
Nottingham Youth Orchestra Limited Notes to the Financial Statements for the Year Ended 31 August 2024 I Charity $t*tu$ The Charity is limited by guantee. inci)rporated in England and Wales, and Consequently does not have share capital. Each of the trustee5 is liable to contribute an amount not exceeding £10 towards the asset5 of the Charity in the event of liquidation. The address of its registered office is.. Northgate House North Gate New Basford Nottingham NG7 7BQ 2 Aeeounting policies SummAry of significant #ttounting policies and key Accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless othenvise stated. Statement of compliance The Fmancial statement5 have been prepared in a¢cordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their acwunts in accoTdanG¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparatiOD Nottingham Youth Orchestra Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unles5 otherwise stated in the Televant accounting policy notes. Going concern The trustees consider that there are no material uDc¢rtainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Exemption from preparing a c¥sh flow ststemelll The Charity opted to early adopt Bulletin I published on 2 Febary 2016 and have therefore not included a rash flow 5tatem¢nt in these financial statements. Income and eDdoiYments All income is recognised once the Clwity has entitlement to the income, it is probabl¢ that the income will be received and the amount of the income receivable can be m¢a5ur¢d reliably. Page 10
Nottingham Youth Orchestra Limited Notes to the Financial Statements for the Year Ended 31 August 2024 Donations and legqci Donations are recognised when the Charity has been notified in WTiting of both the amount and settlemeni date. In the event that a donation is subject to ¢onditions that require a level of perfomance by the Charity before the Charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment (Trf those conditions is wholly within the control of the Charity and it is probable that these condition5 will be fulfilled in the reporting period. Deferred income Def¢ed income represents amounts received for futur¢ periods and is relea5¢d to incoming resources in the period for which, it has been received. Such income is only deferred when: - The donor specifies that the grdnt or donation must only be used in firture accounting periods" or - The donor has imposed conditions which must be met before the Charity has un¢onditional entitlement. Expenditure All expenditure is recognised once there is a legal or ¢onstructive obligation to ihat expenditure, it is probabl¢ settlement is required and the amount can be m¢ured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basi5 consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated b&8ed on the spread of staff costs. Raisingfunds These are c05ts incurred in attracting voluntary income, the managem¢nt of investments and th05¢ incurred in trading activities that raise funds. Choritoble activities Charitable expenditure comprises those Costs inCued by the Charity in th¢ delivery of its activities and services for its beneficiaries. It includes both ¢osts that can be allocated directly to 5u¢h activities and those cost5 of an indirect nature necessary to SUPPOrt them. Governance costs These include the costs attributable to the Charity's compliance with ci)n5titutional and statutory requirement5, including audit, strategi¢ management and trustees meetings and reimbursed expenses. Taxation The Charity is considered to pa55 the tests set out in Paragraph I Schedul¢ 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Ac¢ordingly. the Charity is potentially exempt from twtion in respect of income or Capital gains received within cat¢gori¢s covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to ¢haritable purpose5. Page 11
Nottingbam Youth Orchestra Limited Notes to the Financial Statements for the Year Ended 31 August 2024 Tangible fixed assets tndividual fed assets costing £50 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairnient losses. Depreciation aDd amort159tion Depreciation is provided on tangible fed as5et5 so as to write off the cost or valuation. less any estimated residual value, over their expected useful economic life as follows.. Asset class Plant aThd machinery Depreciation method gnd rate 250/0 straight line basi5 Fixed Asset investments Fixed asset investments. other than programme related investments. are included at market value at the balance Sheet date. Realised gains and losses on investments are cal¢ulated as the difference between sales proceeds and their market value at the start of the year. or their subsequent CQ5t, and are charged or Credited to the Statement of Financial Activities in the period of disposal. Unrealised gains and losses represent the movement in market values during the year and are cr¢dited or charged to the Statement of Financial Activities based on the market value at the year end. Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherdnce of the objective5 of the Charity. Restricted incoTne funds are those donated for use in a particular area or frir specific purposes, the use of which is restricted to that area or purpose. PensioDS gnd other post retirement obligotions The Charity operates a defined contribution pension schem¢ which is a pension plan under which fixed contributions are paid into a peTh5ion fund and the Charity has Do l¢gal or constructive obligation to pay further contributions even if the fund doe5 not hold sufficient asset5 to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recogni5ed in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is re¢ogni5ed as a prepayment. Financial instruments Fair value measurenwnt The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices are unavailable. the price of a recent transaction for an identical asset provides evidence of fair value long as there has not been a significant change in economic circumstances or a significant lapse of time since the transaction took place. If the market is not active and recent transactions of an identical &sset on their own are not a good estimate of fair value. the fair value is estimated by using a valuation technique. Page 12
Iyottingham Youth Orchestra Limited Notes to the Financial Statements for the Year Ended 31 August 2024 3 In¢ome from donations And leg4cies Unrestricted funds Generil Total 2024 Tot41 2023 Donation5 and legacies. Donations from individuals 5,881 5.881 1,091 5,881 5,881 1,091 4 Income from cbaritsble activities Unrestrieted lunds General Total 2024 Gift aid tax reclaimed SubscrÈptions - Members Concert income Other income Orchestra tsx relief 13,132 68.215 11,901 1,448 35,590 13,132 68,215 11,901 1,448 35,590 130,286 130,286 UDre5trirted fund5 General Totsl 2023 Gift tiid t&x reclaimed Subscriptions - M¢mbers Concert income Other income Tours Orch¢5tra t&x relief 11,460 64,390 13,365 1.974 18,067 21,860 11,460 64.390 13,365 1.974 18.067 21,860 131,116 131,116 Page 13
Nottingham Youth Orchestra Limited Notes to the Financial Statements for the Year Ended 31 August 2024 5 Investment ineome Unrestricted funds General Total funds Other investment income 5.310 5.310 Total for 2024 5.310 5,310 TotAI for 2023 5,569 5,569 6 Expenditure ijn raising funds 4) Investment management co$ts Unrestricted funds General Total 2024 Total 2023 Other investment management costs; Other portfolio management costs 1.729 1,729 1,391 1,729 1.729 1,391 7 Expenditure on charitable activities Unrestritted funds GeDer41 Total 2024 Conductors. tutors and rehearsals Tours Concert costs Rehearsal room5 hire Events and workings OrGhestra administratOT Wages and pensions 1Th5urance Printing, postage and 5tstionery Trade subscriptions Sundry expenses 67,383 350 9,791 10.240 4,410 4,583 25.943 304 274 331 4,751 67,383 350 9.791 10,240 4.410 4,583 25,943 304 274 331 4.751 Page 14
Nottingham Youth Orchestra Limited Notes to the Financial Statements for the Year Ended 31 August 2024 Unrestricted funds General Total 2024 Advertising Bank charges Website costs Depreciation of instruments 714 60 70 2,234 714 60 70 2,234 131.438 131,438 UDre5triettd funds General Restricted funds Total 2023 Conductors. tutors and rehearsa15 Tours 60.951 20,693 10,510 10.655 1.886 3.755 24,693 2,596 290 127 220 620 2,039 675 1,187 60 2,757 63,708 20,693 10,510 10,655 1,886 3,755 24,693 3.045 290 127 220 Concert Costs Rehearsal rooms hire Events and working5 Orchestrd administrator Wages and pensions Bursary payments Insurance Equipment repydirs and renewa15 Printing, postage and stationery Trade subscriptions Sundry expenses Advertising Professional development and training Bank charges Website costs Depie¢iation of instruments 449 620 2.039 675 1,187 60 3,050 2.160 3.050 2,160 146.167 3,206 149.373 Page 15
Iyottingham Youth Orchestra Limited Notes to the Financial Statements for the Year Ended 31 August 2024 In addilion to the expenditure analysed above, there are also governan¢¢ Gosts of £7,326 (2023 - £7.150) which relate directly to charitable activities. See note 8 for further details. 8 knalysis of governance and support costs Governance costs Unrestricted funds General Total 2024 Total 2023 Independent examiner fees Examination of the financial statements Other fees paid to examiners Administration fees 768 806 5,752 768 806 5,752 732 959 5,459 7,326 7,326 7.150 9 Net incomiDyloutgoing resources Net incomingl(outgoing) resources for the year include: 2024 2023 DepT¢ciation of fed assets 2,234 2.160 10 Trustees remuneration and expenses During the year the Charity made the following knnsactions with trustees: Mrs W McDonald Mrs W McDonald received Temuneration of £125 (2023: £1.920) during the year. Remuneration wa5 for the supply of deputising for rehetsals. The charity has authority to remunerdte trusfres under the Articles of Association. No trustees have r¢¢eived any reimbursed ¢xpcn5es or any other benefits from the charity during the year. Page 16
Nottingham Youth Orchestra Limited Notes to the Financial Statements for the Year Ended 31 August 2024 11 Stsff costs The aggregate payroll costs were as follows.. 2024 2023 Staff costs during the year iYer¢: Wages and salaries Pension costs 24,985 958 23,814 879 25,943 24,693 The rnonthly average number of persons (including senior rnaThagement / leadership team) employed by the Charity during the year expressed a5 filll time equivalents was follows: 2024 2023 Average number of employees No employee received emoluments of more than £60,000 durlng the year. 12 llldepeDdent ex4rniner's remuneration 2024 2023 Examination of th¢ financial statements 768 732 Other fees to examinen All other tax advisory services All other services 756 50 720 239 806 959 13 TaxAtioll The Charity 15 a registered charity and is th¢refore exempt from taxation. Page 17
Nottingham Youth Orcbestra Limited Notes to the Financial Statements for the Year Ended 31 August 2024 14 Tangible red x55ets Furniture And equipment Total Cost At I September 2023 Additions 21.307 5,724 21,307 5,724 At 31 August 2024 27,031 27,03 I Depreciation At I September 2023 Charge for the year 14,097 2.234 14,097 2,234 At 31 August 2024 16.331 16,331 Net book v4lu¢ At 31 August 2024 10,700 10.700 At 31 August 2023 7,210 7,210 15 Fix¢d Asset investments 2024 2023 Other investments 197,816 201.313 Page 18
Nottingham Youth Orchestra Limited Notes to the Financial Statements for the Year Ended 31 August 2024 Other investments Listed investments Cash deposits Total Cost or V21uation At I September 2023 ReVuatiOll Additions Disposa15 196,215 17.121 32,898 (52,413) 5,098 201,313 17.121 53.524 86,422 54,627) (107,040) At 3 1 August 2024 193,821 3.995 197,816 Net book value At 31 August 2024 193,821 3.995 197,816 At 31 August 2023 196,215 5,098 201,313 16 Debtor5 2024 2023 Prepayments Other debtors 13.570 393 214 430 13.963 644 17 Cash and eash equivalents 2024 2023 Cash at bank 25,573 ,727 Page 19
Nottingham Youth Orchestra Limited Notes to the Financial Statements for the Year Ended 31 August 2024 18 Creditors: amounts fAIIiDg due iyithin one year 2024 2023 Accrua15 Deferred in¢om¢ 1,730 10,964 1.649 12.694 1,649 2024 2023 Deferred income at I Septemb¢r 2023 Resources deferred in the period Amounts released from previous periods Deferred income P¢t year end 1,300 10,964 1.300 10,964 19 Pension and other Schemes Defmed CODtribution pension scbeme The Charity operate5 a defined contTibution pension scheme. The pension cost charge for the year represents ontributions payable by the Charity to the scheme and amounted to £958 (2023 - £879). 20 Funds Balance #t I September 2023 Other recognised gAinslOosses) Blllanee At 31 August 2024 Incoming resources Resour¢ expended UDTestricted funds General Income fund 216.245 141,477 140,493) 18.129 235.358 Page 20
Nottingb¥4m YDUtb Orchestra Limited Notes to the Finncil St8tements for the Year Ended 31 August 2024 Bglince gt I September 2022 Other recognijed gain¥l{1055rs) Jntoming rwourcu Resour¢es ¢XPEnde41 B*]4n¢¢ #131 August 2023 Tnnsfrn Unrcyirieted furtdg IDwme furyl 8,959 137.770 1157.9141 231,525 (4,1011 216.245 Restricted Bursary Fund The Needham Fund Peter Hotril Scholarship 449 228,319 2,757 {449) (228,319) 2,7571 TDtsI rt#tTitted 231,525 3,206 28.319 Totsl fuDds 240,4 137,776 161.120 4,101 216,245 Pag¢ 21
Iyottingham Youth Orchestra Limited Notes to the Financial Statements for the Year Ended 31 August 2024 21 Analysis of net Assets between funds UDrestrieted funds Gener¥1 Total funds 4t 31 August 2024 Tangible fixed assets Fixed asset investments Current assets Current liabilities 10.700 197.816 39,536 (12,694 235,358 10.700 197,816 39.536 12.694) Totsl net assets 235.358 Unrestricted funds General Totsl funds At 31 August 2023 Tangible fixed assets Fixed asset invesknents Current assets Current liabilitie5 7,210 201,313 9,371 1.649) 7.210 201.313 9.371 (1.649) Total net &8sets 216.245 216.245 22 Related party transaetions During the year the Charity made the following related paty transactions: MrFJBLeBrocq (Mr F J B Le Brocq is the Chairman of the charity. ) Within the year. £70.59 was paid to Mr F J B Le Brocq for travel expenses for rehersals on 13th June 2024. At the balance sheet date the amount due to/from Mr F J B Le Brocq was £Nil (2023 - £Nil). Ms W McDon8ld (Wendy McDonald is a Trustee to the Charity. ) Within the year. a total of £124.76 was paid to Ms W McDonald for deputising for reher5a15. At the balance sheet date the amount due tolfrom Ms W MGDonald w&q £Nil (2023 - £Nil). Dr M Cbadwick (Dr M ChadwiGk is a Trustee to the Charity. ) Wiihin the year. £186.25 was paid to Dr M Chadwick a reimbursement of hiring parts for March concert. At the balance sheet date the amount due to/from Dr M Chadwick was £Nil (2023 - £Nil). Page 22